OMAHA, Neb. — According to Reuters, Union Pacific is negotiating a real estate sale that could add 16 cents a share to the No. 1 U.S. railroad’s fourth-quarter earnings, the company’s chief financial officer said on Tuesday.
“All in all, we are looking at about $1.06 a share, plus or minus,” finance chief Jim Young told an investors meeting, reiterating company guidance for earnings before unusual gains for the last three months of 2002.
“One other item: we do have another big real estate sale in the queue here. I don’t want to talk about it specifically because we’re still working on finalizing the agreement. But it’s scheduled to close mid-December. It could slip, but, if we get it done, it’s worth about 16 cents a share,” Young said.
Wall Street analysts expect Union Pacific, whose rail lines crisscross the western United States, to earn between $1.03 and $1.12 a share before extraordinary gains, according to a survey of 10 analysts by Thomson First Call.
The company in last year’s fourth quarter earned $1.06 a share, or three cents less than the consensus forecast for the current quarter.
Union Pacific, which last month raised its common dividend 15 percent, in October reported a surge in third-quarter profits to $437 million. The profits included a gain from the sale of land, track, facilities and operating rights in Utah.